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Innovation and Change - Assignment Example

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Innovation and Change (Institution’s Name) 21st June 2013 Introduction This present paper mainly focus on the concept of innovation, which has been described by Dehoff (2005, 1) as “the ability to define and develop new products and services and then deliver them to the target market.” Additionally, Dehoff (2005, 1) stated that through innovation a business organization is able to obtain competitive advantage and it also act as a source of value creation…
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Download file to see previous pages According to Dehoff (2005, 1-2) the internal factors that influence an organization’s ability to innovate and change is the decision making process within the organization, the amount and nature of information available, motivators within an organization and the structure of an organization. Furthermore, Dehoff (2005, 1) stated that organizations focus their innovation efforts on development cost, quality of services and products, and the time it takes for products and services to reach the market. This present assignment will provide answers to questions regarding innovation and change, drawing on readings and research that were previously provided. The hallmark of strategic innovation Philips et al. (2006, 175-196) conducted a research on the innovation process as well as the effective management of innovation and the findings overwhelmingly indicated that there is are set of good practices or the hallmarks for innovation that denote an effectively managed innovation process. However, these good practices are only applicable in times when there is stability in the market as well as on the products and hence, the innovations are only required to make the market and the product better. Philips et al. (2006, 183) stated that in case there is a realignment in political force, market force, and technological force an organization will be required to implement discontinuous innovation that has its own distinct set of good practices. Philips et al. (2005, 176) listed the hallmarks of strategic innovation and they include close monitoring and evaluation at each stage of innovation, active involvement of users in the innovation process, the early identification of problems with the innovation, simultaneous engineering to assist in the speedy development whilst retaining cross-functional involvement. Other hallmarks of strategic innovation are incorporation of teamwork into the process and utilization of tools such as rapid prototyping or CAD to increase speed and quality of the innovation process. In case of discontinuous innovation, Philips et al. (2005, 183) listed some of the good practices and they include exploring alternative future scenarios and then identifying different possibilities and building the capacity for exploring different innovation strategies at the same time. Importance of organizational features in encouraging innovation Kontoghiorghes et al. (2005, 185-2005) conducted a research study that aimed at exploring the relationship between some characteristics of learning organization and adaption of change, innovation, and the financial performance of an organization. From this study, it is possible to extract the importance of some organizational features in encouraging innovation within an organization. For example, in their study Kontoghiorghes et al. (2005, 197) stated that open communication and information sharing within an organization are the leading organization feature that have an influence on change adaptation, innovation, and improvement of a company’s profitability. These features encourage innovation in the sense that different stakeholders within an ...Download file to see next pagesRead More
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